Marico has announced that its Board will meet on January 31, 2025, to consider declaring an interim equity dividend for FY 2024-25. The record date for the dividend will be February 7, 2025, the company said in a statement on the stock exchanges.
Marico Limited has informed the stock exchanges about a Board Meeting scheduled for Friday, January 31, 2025. The meeting will include discussions on the potential declaration of an Interim Equity Dividend for the financial year 2024-25, as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Marico Ltd reported a 20.3% increase in consolidated net profit, reaching ₹433 crore for Q2 FY2024, compared to ₹360 crore in the same period last year.
The company’s total income rose to ₹2,746 crore, up from ₹2,514 crore in Q2 FY2023. The growth was primarily driven by a 7.6% increase in revenue from operations, which reached ₹2,664 crore compared to ₹2,476 crore last year.
The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew modestly by 5%. Marico’s quarterly expenses also rose to ₹2,194 crore from ₹2,038 crore in the previous year.
Marico highlighted that rural markets outpaced urban demand for the third consecutive quarter. The domestic segment saw mid-single-digit volume growth, with Parachute Coconut Oil benefiting from price adjustments due to rising copra costs. Saffola Oils saw slight revenue growth, as pricing cycles turned favorable after eight quarters of challenging conditions.
Marico’s consolidated business delivered mid-teen revenue growth year-on-year in Q3 FY25, positioning the company to meet its double-digit growth aspiration for the full fiscal year.
Despite higher input costs, the company continued to expand its consumer franchise and make investments in brand building, Marico said in a statement.
The international segment posted mid-teen constant currency growth in Q3 FY25, with Bangladesh showing robust double-digit growth. However, Vietnam faced a softer quarter due to sluggish consumption, while regions like MENA and South Africa maintained strong double-digit growth momentum.
Marico’s share price traded 1.85% higher at ₹664.65 at 3:10 PM on the NSE. The stock opened at ₹650 down from ₹652.60 at its previous close.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jan 17, 2025, 3:24 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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